October, 2022

• 20 October

  Goldman shakes up leadership ranks in another overhaul

    Bloomberg Goldman Sachs group Inc’s David Solomon is embarking on his third major reorganisation in just four years as chief executive officer, undoing some of the signature moves he made as recently as 2020. The Wall Street giant plans to once again combine its expanded asset management and private wealth businesses into one unit run by Marc Nachmann. Goldman ...

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• 20 October

  HK stocks poised for 13-year low as growth concerns weigh

  

    Bloomberg Hong Kong stocks dropped, putting the benchmark on course for its lowest close since 2009, as Chief Executive John Lee’s maiden policy speech underwhelmed amid ongoing concerns about China’s Covid Zero policy. The Hang Seng Index slid as much as 2.6%, driven by losses in tech shares including Alibaba group Holding Ltd. and Meituan. The measure, down 31% ...

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• 20 October

  GoTo in talks with Alibaba, SoftBank for $1b stake sale

  

  Bloomberg Indonesia’s largest tech company GoTo group is in talks with its major owners for a controlled sale of roughly $1 billion of their stakes, aiming to avoid a potential stock crash when a lock-up on their holdings ends next month. The ride-hailing and e-commerce provider is gauging the interest of early backers including Alibaba group Holding Ltd. and SoftBank ...

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• 20 October

  Jebel Ali port, Jafza key to boosting India-UAE trade to $100b in 5 years

  

    Dubai / WAM DP World hosted “The India-UAE Bridge; Dubai – India’s Gateway to the World” along with the Confederation of Indian Industry (CII) for key business leaders in Mumbai to showcase the role of Jebel Ali Port and Free Zone in boosting non-oil trade between the UAE and India to $100 billion over the next five years, complementing ...

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• 20 October

  Aramex acquires MyUS platform in $265m deal

  

    Dubai / WAM Aramex, a leading global provider of logistics and transportation solutions that is listed on the Dubai Financial Market (DFM), has completed the acquisition of Access USA Shipping (MyUS), a global technology-driven platform, for an all-cash purchase price of about $265 million. The transaction, after having obtained all the necessary regulatory approvals, marks Aramex’s largest acquisition to ...

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• 20 October

  Dubai reports AED2.2bn realty deals in one day

    Dubai / WAM Dubai real estate market recorded 479 sales transactions worth AED1.65 billion, in addition to 82 mortgage deals of AED406.61 million, and 37 gifts deals amounting to AED137.63 million on Wednesday, data released by Dubai’s Land Department (DLD) showed. The sales included 437 villas and apartments worth AED1.44 billion, and 42 land plots worth AED210.44 million, while ...

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• 20 October

  Sheikh Abdullah holds talks with EU foreign policy chief

  

    ABU DHABI / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has received a phone call from Josep Borrell, High Representative of the European Union for Foreign Affairs and Security Policy. HH Sheikh Abdullah and Borrell reviewed the importance of enhancing the values of tolerance, pluralism, respect and peaceful coexistence in ...

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• 20 October

  Abu Dhabi’s Mubadala takes stake in Germany’s Skyborn

  

    Abu Dhabi / WAM Mubadala Investment Company, the Abu Dhabi-based sovereign investor managing a global portfolio of assets valued at $284 billion, has acquired a stake in Skyborn Renewables, the world’s largest private offshore wind developer, alongside Global Infrastructure Partners (GIP). The acquisition of a 100% interest in Skyborn Renewables provides GIP and co-investors, including Mubadala, with access to ...

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• 19 October

  Jafza trades AED147bn worth of electronic products in 2021

  

  Dubai / WAM Jebel Ali Free Zone (Jafza), in its report published on Wednesday, explained that the Gulf’s electronics and electrical sector has grown sharply in the last few years, driven by rising disposable income, tourism and deep internet penetration rates, making the region one of the most connected globally. Due to its strategic location, Dubai is one of the ...

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• 19 October

  UAE ranks 25th globally in pension system: Report

  

  Abu Dhabi / WAM A Mercer Institute report focused on measuring global pension indicators revealed that the UAE is ranked 25th in its annual study, which included 44 global pension systems, equivalent to 65 percent of the world’s population. The report monitored relevant indicators regarding retirement income systems around the world, and highlighted several proposals that could contribute to providing ...

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